New ALEX Drove $119 Million in Potential Tax Savings Last Year

We combed through user compliments and criticism, put on our stylish behavioral science hats, and rebuilt ALEX from the ground up. This time, we set our sights on HSAs and 401(k) savings: giving personalized advice on how much to save, details on why pre-tax benefits are the bee’s knees, and backing it all up with real-world dollar amounts.

In 2017, ALEX users said they would contribute $1,153 more to their HSAs than the national average, totaling more than $438 million in potential contributions.*

Those users could save nearly $86 million in personal taxes**, and their employers could save $33 million in payroll taxes.***

ALEX users said they would contribute an average of 10.8% of their pay to their 401(k), compared to a national average of 6.2%.****

To sum up: after talking to ALEX last year, hundreds of thousands of employees are now better prepared for both retirement and medical expenses–and both they and their employers will see significant tax savings.

But we’re not stopping here…we’ve got lots of ideas to make ALEX even better in 2018.*****